The Greek economy will return to growth in the second half of 2016, according to European Commission’s spring report published on Tuesday. In its comments on Greece, the European Commission noted that the Greek economy showed remarkable durability in 2015.
According to the report, growth is expected in H2 2016 and to further advance in 2017 due to the restoration of the trust and the restructuring reforms. It also stressed that the fiscal gap is expected to further decline after the improved fiscal figures of 2015 and the completion of the 5.4 billion euros fiscal package.
Regarding unemployment the Commission’s report said that it will continue to ease throughout the forecast period. Nevertheless, the Commission underlined that the insecurity is still high and that the expected recovery of the Greek economy is closely linked with the on time completion of the first review and the positive reaction of the financial markets.
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations , Greek travel market, Greek tourism statistics, Greek tourism report
